trish: all right. the house is set to vote any minute right now on changes to the visa waiver program that would enforce stricter travel requirements for the 20 million people coming into the country every year. i'm heading over to liz claman who's going to take you into the vote. liz: we are on that vote the second it happens, we will let you know. oil's gravitational pull yanking the markets down, dow jones industrials down 136 points, but as oil drowns, the dow is trying to fight back, cutting losses. at one point as steep as 245 points. well, not oil, but the threat of terrorism looming large today on capitol hill and across the nation. as i just mentioned, take a look on your screen. that's a live picture of the house floor. the house is expected to vote to restrict the visa waiver program. that means the visa-free program for people from 38 states coming in for less than 90 days, they

may vote to tighten this thing within this hour. we'll let you know the second it happens. this action comes just one day after billionaire republican presidential candidate donald trump said he would ban all muslims from having this country. it has touched off quite the firestorm on all sides of the aisle. in fact, comments are dripping and jumping in every second. i'll bring those to you. trump also calling members of congress messy and confused, blaming them for the current situation. so we are going to ask one of them about that. congressman barry latter milk, republican and a member of the house homeland security committee. wait million you hear what he has to say. visas not the only tool in terrorists' kit, when edward snowden exposed the government surveillance program in 2013, did he give america's enemies a way to hatch their devious plans? we're going to talk about that, it's an important question that's really something we

immediate to discuss. retired general keith alexander is the man to discuss it with. he was the nsa director when snowden dropped his digital cyber bomb. general alexander will tell us in a fox business exclusive if america is now more vulnerable to attacks thanks to edward snowden, and what can we do about it now? so with the markets fighting for oxygen, we're less than an hour to the chosing bell so, come on, let's start the "countdown." there. ♪ ♪ liz: breaking news. right now when you see this number on your screen, we have the dow down 158 points, that is well off the lows. the nasdaq just a second ago punched into positive territory, not quite there yet, kind of trying to claw back and forth here. but right now the nasdaq is lower by about three points. a far cry from its low of the session earlier today, the nasdaq was down about 56 points. i need you to look at the u.s. dollar. why? well, you can see because it all

relates to the oil situation here, the dollar is stronger against major currencies, but canadian dollar -- canada, of course, hugely dependent on oil and on gasoline and all the things that are plummeting right now, so it's canada -- we don't have the norwegian crown at the moment, but norway heavily dependent on that commodity-based economy. it, too, has a currency that is floundering at the moment. u.s. dollar muscling right now. mechanic one of the leading sectors -- health care one with of the leading sectors today, and there aren't many of them, but right now we do have the health insurers pretty mixed here, lower, but health care and things like biotech looks stronger. materials are the big laggards today, that does weave in with what's happening with oil. we have the index here, it's unchanged at the moment but weaker over the past couple of days as oil gets whip sawed particularly in the last half hour. i guess you could back up an hour before that, because earlier today oil prices showed

severe signs of breaking down, tumbling before noon below $37 a barrel. that's first time that's happened in nearly seven years. the closing price in the last hour ended up being the lowest settlement price in seven years. overseas to the brent market, also breaching a key level, falling below $40 per barrel. this is what trades overseas. below 40 at one point today, we haven't seen that in six and a half to seven years. there's a trade on the other side, but timing is crucial. let's bring in eric bolling who traded oil for years in the pits of the cme along with michael holland, chairman of holland and company, and we have got teddy weisberg on the floor of the new york stock exchange. eric, i will hold up this. >> i know where you're going with it. liz: you do. >> buy a barrel of oil with that someday? [laughter] liz: will a barrel of oil be $20? >> you know, lizzie, maybe 16, 17 years ago you could buy two barrels of oil with that $20 bill. it dipped down to $10 a barrel at one point. look, i've been coming on this

show the minute it broke $100 a barrel, 90, 80, 70, i think we're going to see 20 -- maybe upper 20s, low 30s, but that hasn't happened in quite a long time. $33 a barrel, i think, seven or eight years ago, that was the low before big spike up to 140. so many things going wrong for the oil market, the oil price, but right for the economy. number one, strength in the dollar puts absolute downward pressure on all commodities. number two, overhang in supply. plenty of supply. opec number, three, they're not going to support the price be, four, brent breaking below $40 a barrel is an absolute weight on the oil market here. you know the old saying, don't catch a falling knife. this is a falling chain saw, a falling hacksaw. the oil market, i've traded that for so long, it goes further up than anyone expects and further down than anyone expects -- liz: that's why teddy has his hands folded behind his back.

let's bring it to what you're seeing whether it's the miners, the drillers, the integrated oil, right now it is causing what we see the dow down 134. >> well, you know, the whole oil conversation is a great conversation, and i can remember in the early '90s when oil was $20 a barrel, and all the predictions were that it was on its way to zero. and eric is 100% right. things always get overdone. they get overdone on the downside, on the up side because there's nothing rational at all about this business even though we try to make some rationality out of it. [laughter] so but having said that, we're in the funny time of the year where the weak stocks tend to get weaker, a lot of tax telling, but beyond that, liz, and we've talked about this before, the fact that the popular averages continue to levitate at or near their all-time highs is really very deceiving because the amount of damage that's being be done in the markets -- being done in the markets, in the market internals in certain sectors, i mean,

we've got a lot of stocks that are trading at or near the 2008-2009 lows. now, a lot of them are in the commodity sector, a lot of them are in the energy sector, and some of the smaller energy stocks have just disappeared, quite frankly. liz: well, here's the guy who's made a lot of money not panicking and not trading day-to-day, and it's michael holland. michael is about to make a call on oil and whether we do see this 20, are we going lower? are we going higher? what is your perspective right now? everybody hold on, michael holland. >> okay, i'm panicking right at the mome. [laughter] liz: you look panicked. >> i think the way eric just described it, someone who's been in the business for many years, in the past he's seen these kinds of moves. the intense emotional response to all this stuff, he laid out the several -- physical things that are going on. then you have the other two things going on in the market, one is emotion which ted weisberg talked about and eric referred to, and the other is the machines.

i asked eric off set what he thought was the percentage of trading that's done in the oil pits right now done by machines, not by human beings. because that's having a big effect on the stock market. obviously; when -- liz: and what did he say? >> most of it. most of it. so it's not -- so you could have this thing, as he says, go further than anyone suspects as it often does because of emotions, and the machines' algorithms trading and people getting really panicked, as you say, at the bottom. if it goes from where we are now to the low 30s, high 20s, i think we're putting in somewhere near a bottom, that would be my guess only because of the emotions. >> well, yes and no. it depends on what's your affinity for pain. if we're at $38, 37 a barrel, if you can handle a $29 barrel, then maybe you're right. and then you can wait out a long-term recovery in the oil markets. but here's the other part of the problem. if you do have -- ted by weisberg -- teddy can weisberg talked about stocks at or near all-time highs, if you have a turning down of stock market,

you may see some selling of everything, just the mass liquidation of assets; stocks, bonds, commodities, across the board. we've seen that before, that's not a phenomenon. but long term i would agree with you. i would say a $30 barrel of oil or $40 -- liz: so why not just buy futures right now? let's talk to our investor audience. >> because you're going to get blown out buying futures right now. liz: how much lower can you -- >> i've had friends, lizzie, made all their money in oil, multimillionaires, and literally carried out in a matter of a day or two or three days with a massive washout of the oil market. liz: teddy, are you seeing any of the proverbial blood on the streets at the moment? that maasive sort of -- i hate to say it -- >> not yet. liz: what charlie gasparino says, the p-word, but the vomiting that comes to what's going on when you hit that bottom. >> liz, if you go back to 2008, just the general market now,

2008 markets overall were down about 38%. first three months of '09 up through march of 'to 09 we were down another 13-15%. that first three months was when all the damage was done, that's when people were throwing stockings away. we're not quite there yet in the oil sector, but we can easily get there between now and the end of the year simply because the tax selling, people are going to say you can keep -- jeez, let me out of the trap. so there might be an opportunity, but i sure would wait for the last couple of days of the trading year if i were going to put a toe in the water. liz: great to see you, teddy. eric bolling, wonderful to have you. michael holland's going to stay with us. i want to keep people posted here, we are awaiting a decision, a vote on the visa-free travel crackdown. the the visa waiver program will allow -- does allow citizens of 38 countries to travel to the u.s. without a visa. that may all change within this hour.

so we are watching it very closely. closing bell, we're 50 minutes away. lebron james signs a lifetime deal with nike that's worst millions, but what is that deal news doing to the value of the vintage pair of lebron sneakers in your closet? we are going to show you now how they're suddenly skyrocketing in price. and donald trump says ask them their religion as they arrive in the u.s. and then ban them if they say "muslim." >> look at this case of the bombing and the killing, the carnage, where he had bombs all over his apartment, and people knew it, and they didn't want to call the police. they knew there was a problem because they didn't want to racially-profile him. >> he says keep them out. congressman barry loudermilk is joining us next on countdown with a strong opinion on this. stay tuned, don't go away. dow jones industrials down still about 148 points. feel a cold coming on?

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♪ ♪ liz: okay. folks, with 45 minutes before the closing bell rings, it's the nasdaq you want to keep an eye on here. it's just three points to the downside, it's been trying to punch in and out of positive territory. if it makes it, we'll see. 44 minutes now to see if it can make the green win. morgan stanley adding to the pain on wall street today, the bank announced it is cutting an

additional 1200 jobs. that includes 470 in its fixed income and commodity business right before the holidays. terrible timing. company also announced it'll take 150 million charge in the fourth quarter to cover receive advance expenses. the stock is down 1.75%. it's a tough market to trade in, especially with fixed income. donald trump doubling down this morning on the comments he made last night, these inflammatory comments on how to handle the syrian refugee crisis in the wake of recent global terror attacks. listen. >> donald j. trump is calling for a total and complete shutdown of muslims entering the united states -- [cheers and applause] until our country's representatives can figure out what the hell is going on. liz: so he, in essence, is blaming our countries representatives, so we thought get one of them in front of the cameras here. we're very happy to be joined by congressman barry loudermilk,

republican from georgia, who, actually, not only do you sit on the homeland security committee, but perhaps more pressing for our news viewers here, you're a cosponsor of what's going on with the visa waiver program. do you think this'll pass? because we're expecting to see it within the next hour or two. >> well, i think it will pass, it'll pass. we've had bipartisan support for the bill. if we can get to it. right now it's kind of a circus on the floor with every 30 minutes a member of the democratic caucus calling for a motion to adjourn. and so we're having to stop what we're doing to deal with that. but we're going to get there before the night is over with, and this is something -- it's just one of 32 recommendations that a counterterrorism task force that i served on made back in september. and it's not a fix-all, but it is definitely a step that we must take. liz: well, there is no fix-all, but steps are important. donald trump has come out with what he believes might be a fix-everything situation by banning muslims. first, your opinion on what he has said about not allowing any muslims to come into this country.

>> look, i understand, i think i understand what his sentiments was, that most of the terrorist attacks in this nation in the past several years have been by radicalized islamic extremists. but we have a freedom here, a freedom of religion. we have a constitution that every person who takes an elected office here in this nation and every member of congress and the president swears to one thing, to uphold the constitution. i think his remarks were irresponsible, but we kind of live in an era right now where you can say anything and get away with it. we have an administration right now that says isis is contained, and so, therefore, we're supposed to believe they're contained even though they're expanding. he says they're the jv team. they're not. they're a well-organized military force. they're a nation-state for all intelligents and purposes -- intents and purposes. they have a government, they have an economy. and when you look at the terrorist attack in paris, that was a well-orchestrated military operation where they were able to maintain operational security.

so we have to get beyond thes irresponsible statements and actually start taking action. liz: well, here's a statement. representative david jolly, republican from florida, is actually calling on trump to drop out of the race. would you go that far? what does his presence mean for your party right now when he is saying things that seem to be antithetical to, a, the u.s. constitution and, b, what america tends to stand for? >> i think it's hurtful for the party, for the brand, and, look, we're about the constitution. we're about freedom and liberty for all, but we do have a responsibility to protect -- liz: should he drop out on this, representative? >> i think he needs to come out and explain what he exactly means -- liz: oh, he's explained, sir. he's been on every single network, including fox news, and he has explained, he was on msnbc for 32 minutes. he's not backing down. there's his explanation. >> well, if, and is it for me to call for him to back out? no, i don't think so. but i think it's time for the

american people to wise up to what's going on in this nation. and so, hey, he has every right to continue to run. i think if he's going to drop out of the race, that's a decision he has to make, but i think the american people need to pay attention not just how he's saying things, but what he is saying. liz: working hard in congress, you are, to try and make sure that this country stays safe, and we do appreciate it. congressman barry loudermilk, let us know what happens. in fact, we've got our cameras trained on the floor of the house to see if that visa waiver tightening program will come through. thank you very much. tune in to charles payne tonight. why? he has that congressman, david jolly, who is demanding donald trump get out of the 2016 race. it's a don't-miss, can't-miss interview, charles has got it. 6 p.m. eastern. closing bell, we're 40 minutes away. so we also have to tell you about the latest on the chipotle e. coli outbreak. as you know if you're a fan of "countdown to the closing bell," it did not scare me off exactly

two weeks ago when i enjoyed by veggy burrito bowl with no effects ten days later, because that's the incubation period. how many people are reconsidering now that 80 people in boston aren't feeling so good right now? lori rothman talking to patrons at one of chipotle's most successful new york city locations. she is right there. and a question for you, who is best equipped to stop isis and protect america's national security? is it facebook's mark zuckerberg, apple's tim cook or president obama? may all depend on which side of the privacy encryption debate you're on. former nsa director general keith alexander answers that question in a fox business exclusive just minutes from now. should we reinstate the phone data collection that was shuttered a week and a half ago? tweet me or post on facebook.com/lizclaman. all of our clinks to all -- links to all of our interviews are on lizclaman.com.

please be part of our family. dow is down 164 points right no moment. -- right this moment.

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liz: i've got this breaking news, and it is just moving right now. i have just pulled this from twitter. donald trump has just tweeted a few minutes ago, quote: a new poll indicates that 68% of my supporters would vote or me if i departed the gop and ran as an independent. as this is breaking right now, i am seeing this is a poll that he's referencing from "usa today," suffolk university. is this a shot across the bow? he has been pummeled by republicans. you just heard representative loudermilk saying it's not what we stand for. a couple of other quotes, jeb bush came out this morning and said donald trump is unhinged by suggesting muslims should be bans from entering this country, lindsey graham has said that donald trump is the isil man of

the year. he's xenophobic and a religious bigot. so donald trump is now making noise that possibly -- again, we're trying to interpret this, but possibly -- can we show that tweet one more time? that he might consider leaving what has become a very unwelcome atmosphere with the gop and possibly run as an independent. we will get you anything more on this story as it becomes available. now let's get to some sports news here. it's a slam dunk for lebron james. the superstar forward has struck a lifetime sponsorship deal with nike. the first of its kind, and it certainly pays. the the contract's expected to be worth well over $300 million. the market cap of mid-sized companies. small caps and mid caps. that's in addition to what nike and lebron have made over the past 12 years, but we thought we'd do some dig doing. as soon as this news came out, the used lebrons for sale on

ebay began skyrocketing. here's one going for a mere $8,000. and these nike zoom lebrons are selling for a massive $10,000. but nike may soon be in for some competition. you should armour's gaining -- under armour's gaining traction with soaring share price. in the past year, under armour shares have soared nearly 250%, while nike -- no slouch -- saw a 185% gain. the golden state warriors are undefeated at 22-0, and there's the nike/under armour check this, both moving higher today. chipotle's in a difficult position. it was a couple weeks ago that it had its first scare we coal lie, but now -- we coal lie with now 80 students ill near boston college's campus, the stock is moving lower by two and a third

percent, and the number of sick are climbing from just 50 this morning. we thought let's get lori rothman to the chipotle this midtown manhattan. and what are you getting the sense from the people who are there, lori? >> reporter: they're unfazed, steady stream of people. we've been out here all day really and the lunch rush was pretty much what it normally is. we talked to a lot of folks as they came out from their lunch and said, how was it? why'd you decide to eat at chipotle? haven't you heard about these e. coli issues and this latest instance which, by the way, chipotle is sayings likely a nor provirus, but it hasn't been confirmed by the cdc. >> honestly, i'm not super concerned about it. maybe it's stupid, but i'm going to keep coming here anyway. >> take the risk. >> it hasn't stopped me. >> reporter: are you not worried about it? >> no, i'm not worried about it. >> i'm not worried about it either. i don't really care.

i did check the stock, and the stock completely plummeted -- >> reporter: have you heard about the e. coli outbreak? >> yes, i did. >> reporter: did that make you nest? >> of course it did. >> and you decided to take the risk? >> took the risk. it was so good. [laughter] >> reporter: good stuff, right? i mean, we're standing out here all day, liz. ben west, our awesome photographer, was like, you know what? i have kind of a craving. check this out, he had lunch there too. >> liz, so i got something for you. i had no problems here. liz, you want a bite? [laughter] liz: i do, i do, ben. that's our ben west. >> reporter: hungry time. liz: he's as gutty as i am. i would eat there all the time -- >> reporter: and i just want to make clear that -- you do. and chipotle is saying the situation near boston college where 80 students were sick is an isolated case. they believe, as i said, the cdc

is still investigating here, but they point to a specific instance where an employee showed up to work sick, and health officials discovered the meat was stored at an improper temperature. it's really taken a hit, stock off now 25% in the last three months. liz: that's no laughing matter either but, thankfully, nobody has died just yet. there may be a norovirus question about what the actual question was but, hopefully, a speedy recovery for the boston college kids. ben, we'll see you in ten days after the incubation period is done. i was fine. closing bell, we're 29 minutes away. the dow is still struggling here, down 165 points. now, remember when everybody said follow the money after the san bernardino shooting murders? well, the feds have, and the trail is still hot. the discovery of a mysterious $28,000 deposit in the suspects' bank account has investigators now encouraged and working overtime to find out who's doing the funding.

jeff flock is hot on that money trail. he's going to join us live in just a second. and he was the head of the nsa when nsa contractor edward snowden revealed america's secret surveillance program, but did the revelation do damage beyond repair to our nation's ability to protect ourselves? has edward snowed been, the man on the right, become isis' greatest ally? former nsa chief general keith alexander joining us in a fox business exclusive next on "count down" and what should we do next. the general's coming right up, don't miss it. ♪

♪

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so it appears that $28,500 deposit was made to syed farook's bank just two weeks before he and his radicalized wife allegedly carried out the deadly massacre. fox business' jeff flock live on the ground in riverside, california, outside the house of a man named enrique marquez. he's the man who, correct, brought the guns for syed farook? >> reporter: that is correct. and part of the money trail as well, we think, liz, or at least the government is looking into that. you mentioned that nearly $30,000 deposit. the headline good news on that is it appears it did not come from someone outside the country or some entity outside the country. according to fox news exclusive reporting on this, it appears it was a loan they took out but, certainly, that goes to the issue of premeditation as well. take a look at what syed farook was making in terms of salary, based on information that we've

obtained from san bernardino county public records. his salary was a little over $51,000 a year with the benefits, comes up to $71,000, but he wouldn't have had, of course, cash access to all of that. hence, potentially the loan. enrique marquez comes in because he bought the guns, there is some speculation the government is looking into whether a $10,000 withdrawal from his account, from that $28,000 originally could have potentially gone to compensate mr. marquez. and the other money apparently going to mr. farook's mother. the headline, liz, the good news is it didn't come, apparently, from outside the country. liz: well, the important underlying issue here is that they are on the case, the investigators are just fighting to get on this trail and, jeff, i know you'll keep us posted, thank you. jeff flock in california. so they're looking at everything from bank t accounts to phone records. now, the program allowing the

nsa to collect in-depth phone records of americans was shuttered november 28th all because of this man, former nsa contractor edward snowden. he, you may remember, released highly classified information about the nsa's surveillance program during my next guest's tenure as the director of the national security agency. outrage followed, and then the program was shut down, but the end of the program also comes at a critical moment in the fight against isis as agents of terror have taken to the web and communicated by cell phone to recruit and radicalize new members. let us bring in, in a fox business exclusive, former nsa dictor, retired four-star army general keith alexander. welcome, general, thank you for being here. >> thank you, liz. good to be here. liz: this just struck me, and i thought let me start with this. how valuable would the nsa metadata program as it's been known would it have been either before or after the san bernardino shooting to track

down and pinpoint not only the killers, but their possible cohorts? >> so i think the program was more important for what happened after to see if there are others in the country affiliated with this group. as you may recall, liz, that program was actually to look at those outside the united states communicating with people inside the united states. in that regard, probably not a lot of value to start. but if there were other entities in the united states that were talking to this group that were going to conduct mumbai-style attacks, it would have been critical for it. liz: but we don't have it. do we need to get it back, general? >> well, i think that's one of the things we should look at in some form. now, supposedly the service providers are supposed to give us that, and i think they're working their way through. i think what the presidential review group came up with, actually, is a good stages point for -- staging point for our country. but what you bring up, liz, is a hugely important issue. how do we approach countering terrorism at a strategic level

of which this is one piece of it? what are the intelligence authorities we have? i think we have to put all of that together and have a debate within our country of what we can and can't do; law enforcement, intelligence agencies, gun control and arrests. what's our strategic approach to countering terrorism? with this program i do think we should bring parts of it back. i think we should have outsiders like jeffrey stone and others look at it every year to make sure that what nsa and law enforcement are doing is exactly right. liz: okay. well, you know, you talk about somebody as yourself who's fought on both real battlefields and on pixelated battlefields. who now, have we ceded the power to go after isis to is it the mark zuckerbergs of facebook and the jack dorseys of twitter? is it tim cook with apple because of the phones or is it president obama?

who holds the keys now to going after these guys? >> so that's a great point because technology's moving at a great pace what the technology companies can do in encrypting data would make it very hard for law enforcement and intelligence community to get after it. i think what everybody is calling for is a discussion between the technology companies and our government on what and should we do. and, you know, liz, i think this is something that should be not only a u.s., but an international approach. it's got to be. liz: do we leave it up to anonymous, the hacker group? they are in just a few days going to do a whole day of let's attack isis through the web and through all of these social media sites. i mean, whoever thought we would be linking with anonymous to get these guys, but maybe they have more power x that's a sad state of affairs, is it not? >> well, it is in that one statement, but note that

attacking isis just on the web is not going to be sufficient. we've got to attack it across all these fronts. what's it take to defeat isis? is and, you know, it's more than attacking on the web. it's the physical attack, it's shutting them down, it's multiple countries working together. i do think we have to look at allowing terrorist groups like isis to use the internet for recruitment, for social media. we ought to look at that. and so i think in that regard getting the tech community together with our government is the only way we can handle it. you know, we're allowing them to recruit folks to radicalize folks using our internet capabilities that we developed. we ought to, we ought to work that together. liz: general, you're a four-star general, and we're talking about the web, and we're talking about phones. should we have boots on the ground too? >> well, that's -- i think so, yes. to be candid, we've got to have

some, and i think they are looking at what you can put on the ground. but before you put boots on the ground, i think i would step back and say what's the strategy to solve the terrorism problem. liz: right. >> and, you know, that talks about things like security, stability, economic development in the middle east so that these people have something greater than jihad to go for. i'm concerned, think about egypt. 25% unemployed. liz: yeah. >> what do they have to look forward to? so we are right now not going at the roots of terrorism. we need a strategic plan. liz: okay. >> and i think the tactical part that you bring up, boots on the ground, yes, we should do that, but that should be embedded in this comprehensive strategy. liz: general keith alexander joining us in a fox business exclusive. thank you so much. >> thank you, liz. liz: he also runs iron net cybersecurity, the guy to go to for that. general keith alexander, our thanks. we will be right back, stay tuned for more. you both have a

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♪ ♪ liz: herbalife taking a major shot at its arch enemy today. we have obtained a letter that the nutrition company's legal counsel sent to pershing square, the hedge fund run by billionaire bill ackman. it's a juicy letter. charlie gas primo. >> right. what they're saying is this: you've hired private investigators, we are -- he's looking to dredge up confidential information about our product. we think that's crossing the line into illegality. please stop, cease and desist right now. we're going to have a write-up on this on foxbusiness.com. we're going to put the letter on there. the letter is being, essentially, written by barry goldsmith. interesting guy, used to work for the sec and nasdaq, and he's

one of the better financial crime investigators over the years, i could tell you -- liz: well, scared me. >> he's a nice guy. liz: scary letter. >> he was one of the guys that went after the sleazy analyst recommendations where analysts get paid to recommend certain stocks through investment banking fees. he was on the front lines, so this guy knows what he's doing. and he did send the letter to ackman and this private investigator to allegedly dredge up this information. neither ackman, nor the investigator is going to comment, but this is the latest salvo in this fight, and it's interesting. herbalife initially, when this battle began -- we've been talking about this for how many years now? feels like forever. liz: december of 2012 is when bill ackman said i hate this company, it is a pyramid scheme, and i'm going to short it. >> we're going on 2016, and for three years, and what's interesting is at first herbalife's modus operandi was, screw him, let him do what he wants, the market will take care

of itself. for the last year, i would say, th have markedly ramped up their fighting of bill ackman. they have gone after him. they're obviously now going after his -- liz: well, it started to kill the stock. it was $as -- 27 as bill ackman said this company shouldn't exist, and now look at it. the annual high is about 61, so they're climbing back. >> yeah, it's climbing back. it was as high as 70, wasn't it? liz: well, this year, 61.95. >> it was higher at one point. liz: no, that's a six month. >> it was higher at one point. it was close to 60 and maybe higher. what have we got -- there we go. look, it was at 80. it came down. look how far it came down, now it's back up again. when it made that dip, i think, is when they said, listen, we're bringing in a guy named alan hoffman, he's going to run our strategic communications and corporate affairs, we're going

to bring him in, and you've seen a fightback which is basically contributing to the strong coming back. they are not taking anything for granted anymore. they're fighting for their lives. i'll tell you, it was interesting, michael johnson -- who's the ceo -- had an op-ed a couple weeks ago in the washington times, i believe it was, where he went after ackman again. they're definitely on the defensive. i'm not going to recommend whether to buy the stock or sell it, i can just tell you that the ftc, remember, they're being investigated by the federal trade commission on the pyramid scheme accusations from act match, that should be coming down pretty soon. liz: we'll see what happens, but the billionaire, ackman, will not give up -- >> go to foxbusiness.com minutes, we're going to post this letter. liz: herbalife is jumping, charlie, up about half a percent. >> really in good. liz: so it has moved on that. charlie gasparino. we'll be back in just a few moments, the dow down 128 points, at the lows it was close to double that to the downside.

stay tuned. how low will oil really go with just eight minutes left to go? announcer: a horrific terror attack in paris. then, a brutal act of terror here at home. it's time for a tested and proven leader who won't try to contain isis. jeb bush has a plan... to destroy them. and keep america safe. jeb bush: the united states should not delay in leading a global coalition to take out isis with overwhelming force. announcer: tested and proven . . . . for the content of this message.

>> i consider this is selling opportunity. there is a lot of reasons for crude to go down. we need to wait for iran thing to be resolved. they're geared up to dump a lot of oil on market. if that happens we'll go down another 10 or 15 bucks. i still think $33. >> i look for crude to sell off. mr. buffett is buyer. i personally don't see it. we have tons of oil. more coming and good for everybody to go lower. liz: back in july, elliot warren called it. oil at the lowest level since february. after-market session still down about three pennies. here to take a victory lap, are you already out of breath, elliot? hold on. he is so out of breath we can't even hear him. he is there. we have the mic up. we have mike holland toive you

applause. he thinks it is going slightly lower but not much more. he think it is bottoming. what do you think, elliot? >> it will go to $33 in my opinion. if there any reason for that to be the bottom i would like to hear it. i think it keeps going lower. there is tons of oil. nothing is changed. >> why do you say 33 if it is going lower? how low will it go? >> i think you will see a two handle. i think it could get into the 20s. why not? it has been significantly lower. no reason on the horizon to rally. >> we talked with eric bolling who has been in the pits for many years. >> so have i. >> his point, when they go they go too far in both directions. going from lows 30s to high 20s. you started bandwagon before a lot of people jumped on it. feels like there is so much emotion. feels like a classic bottle i

don't think, can you see this? holding up andrew jackson, two handle. 20-dollar bill will do it? you. >> need some reason to change. we were talking on friday. facts are a stubborn things. there is glut of oil. opec is not cutting production. there is no shortage. it is not cold out. there is no reason. liz: people eight months ago said pile into schlumberger and halliburton, some of these other names because they thought the bottom was there. but, mike, when we ask you this, it all dovetails what is going on with the lower book here, down 152 points for dow jones industrials. oil is bringing down the markets. does that trend continue? >> oil by itself can not take down the market but collateral damage. liz: oil names part of the s&p and dow. exxonmobil which you like. >> it is larger. the junk bond market is in

shambles because of the energy sector. we have regional banks heavily into the energy area, were trading down more than other things. if this become as systemic thing, rather than specific sector thing, then there's a problem. liz: mike holland, thank you very much. elliot, i need to tell my viewers. i ran into elliot in the hamptons and getting all the chicks to run around him. i called the oil bottom. i said it is going lower. >> definitely going lower. liz: elliot, thanks so much. that is it for "countdown to the closing bell." david, melissa, a lot of red on the screen of the oil is the central story. david: it is and wild markets and while politics. donald trump calling for complete ban of muslims entered into the united states. a statement condemned by most of his gop rivals on both sides. they are saying this should disqualify him for running for president. melissa: 28,000 was deposited in

syed farook's bank account two weeks before the mass shooting in san bernardino. where did it come from and where was it going? we're following the money. david: 80 college students fallen ill eating at chipolte restaurant near campus. it is not e.coli they said. this is something different. [closing bell rings] melissa: dow down 160 points as the closing bell sounds on wall street. nasdaq basically flat on the day, down just a little bit. crude oil trading at 37.65. let's go trait to phil flynn of price futures group. fox news contributor and in the pits of cme. phil, oil settling at the lowest settlement in nearly seven years. how much lower do you think it can go? >> that's the big question. right now you have to look at